​OCEANTEAM ASA - VERDICT IN PETITION FOR PUBLIC INVESTIGATION

Feb 22 2018

Reference is made to Oceanteam ASA's ("OTS", "Oceanteam" or the "Company") press release of 5 September 2017 regarding Bergen District Court's receipt of a petition for a public investigation ("Investigation") in the Company and Oceanteam's announcement of 9 February 2018 that the Company has received a ruling from the court dated 8 February 2018, which concludes that an Investigation of certain related party transactions will be initiated.

The Company has appealed this ruling on 16 February 2018 and has filed a motion to postpone investigation until the ruling is final.

Bergen district court decided in a new ruling dated 20 February 2018 to appoint an investigator, and that OTS shall pay a deposit of NOK 3,000,000 on account of estimated investigation costs by 23 February 2018. Further the court decided that the Investigation shall not be postponed. These rulings are not final and will be appealed by the Company.

Oceanteam will provide the market with further update in due course.

About Oceanteam ASA

The Company is comprised of two operating segments, Oceanteam Shipping and Oceanteam Solutions. Oceanteam Shipping owns, charters and manages deep-water offshore support vessels and fast support vessels. Oceanteam Solutions' focus is to provide its clients with complete offshore solutions. Oceanteam ASA has been active in the industry as an offshore solutions provider for over twelve years.